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campaign. must, treasury secretary jack lew faces questions about his time at citigroup and a caymans island bank account. and pope benedict, what the catholics will be looking for in their next spiritual leader. , the leaamerican people don't expect government to solve every problem. they don't expect everybody in this chamber to agree on every issue. but they expect us to put the nation's interest before party. >> paul: welcome to the journal editorial report. i'm paul gigot. that was president obama during his state of the union address, he called for a vast expansion, laying out a second term agenda that includes more spending on public works, a cap and trade program for carbon emissions, a minimum wage increase and a federal nursery school entitlement. so does the president think he can get any of this passed or is he counting on a pelosi congress in 2014? let's ask wall street journal columnest and deputy editor dan henninger, james freeman and washington columnist kim strassel. kim, how much does the president think he can pass or is that what this is about? >> no, he knows he
. >> the president just spent the last hour demonizing success. stuart: before we move on, jack lew just addressed his cayman island accounts. he invested as an employee. he took a loss and -- >> we should feel better about the situation because he took a loss. remember president obama attacking mitt romney for his offshore accounts? come on. stuart: why would anybody have an offshore account? >> the taxes in this country are out of controll stuart: it is okay if jack lew does. charles: it is also okay if this president kills people with drones. [ laughter ] stuart: dagen and connell, it is yours. dagen: i am dagen mcdowell. connell: im connell mcshane. the markets are setting up for a repeat of 1987. >> today a full-time worker making the minimum wage earns $14,500 a year. even with the tax relief we put in place. a family with two kids that earn the minimum wage still lives below the poverty line. dagen: business owners say that will cause them to pull back on hiring. congressman charlie rangel is here to defend the president's proposal. connell: it should be a pretty good conversation. how abou
secretary nominee jack lew heading to capitol hill. let's check on where we stand in terms of u.s. futures. it looks like we'll be building off of multi-year highs here in the u.s. the picture in europe, again, the sort of anti-race to the base movement going on. the euro is moving higher this morning. we see green arrows across the board. overnight in asia, japan's nikkei down by about a percent here. on heavy volume. the yen gaining there. our road map starts in washington, d.c. the president unveiling an ambitious agenda. he also called for billions to rebuild the nation's infrastructure. >> the dow is back above 14,000. only 1% away from an all-time interday high. the s&p also near its highest levels since november of 2007. what could help markets today? better than expected earnings from deere and gains by general electric and comcast. >> those big gains because of a big deal. comcast agreeing to buy general electric's stakes. in the mean time, let's send it down to carl in d.c. >> a big night here last night. the president addressing the nation in the first state of the union during
deal, which is still in the early stages. lori: we shall see. treasury secretary nominee jack lew facing tough questions on personal investment and time while at citigroup. senate finance committee during the confirmation hearing. rich edson on capitol hill with the latest. rich: given the 2012 campaign president obama criticized mitt romney for private equity and a number of other issues dealing with compensation, overseas accounts and investments, jack lew had a couple of issues here leading republicans to say it is a hypocritical pick for treasury. jack lew had a venture capitalist investment organized in the cayman islands, to that he says he didn't know it was organized in the cayman islands, he was transparent on it and recorded it on his taxes. he took a bonus from citi, taking taxpayer money. to that, he said was a private firm, he had nothing to do with investments in instead ran the business of the business. also a lengthy conversation about tax reform and lew says there is room in that process to raise taxes. >> i think there is still more work to be done in terms of th
in the cayman islands. treasury secretary nominee jack lew has or did have the same thing. >> why did you choose that investment and what benefits did you receive? >> stick around to hear the answers, plus the rest of his explosive testimony coming up. >> also ahead, president obama calling on congress to raise the minimum wage to $9 an hour. that's up from $7.25. would that slow businesses from hireing? both sides of the debate coming up. stay with us. i know what you're thinking... transit fares! as in the 37 billion transit fares we help collect each year. no? oh, right. you're thinking of the 1.6 million daily customer care interactions xerox handles. or the 900 million health insurance claims we process. so, it's no surprise to you that companies depend on today's xerox for services that simplify how work gets done. which is...pretty much what we've always stood for. with xerox, you're ready for real business. let's say you pay your guy around 2% to manage your money. that's not much you think. except it's 2% every year. does that make a difference? search "cost of financial advisors" ouch.
against. >> reporter: his name is jack lew, a guy with one of the most sterling reputations in washington. >> mr. president, it's an honor to be here. >> reporter: as a loyal and low-key numbers crunching wonk, he has worked his way up to white house chief of staff and is the president's choice for treasury secretary. >> wall street dives more than 360 points. >> reporter: but a few years ago, as the american economy was melting down, jack lew was an executive at citigroup which sheila bair describes as the most toxic of all those troubled banks. >> they were the poster child in need of government aid. >> reporter: citigroup needed three government bailouts. over $460 billion in taxpayer dollars and loan guarantees just to survive. but at the same time, they still managed the pay lew a bonus of nearly $1 million. >> explain why it might be morally acceptable to take close the a million dollars out of a company that was functionally insolvent. >> senator, in 2008, i was an employee in the private sector. i was compensated in a manner consistent with other people who did the kind of work th
. >> thank you. 4:40, 36 degrees on this wednesday morning. >> treasury secretary nominee jack lew finds himself in th >> welcome back. live pictures inside the vatican. pope benedict xvi making his first public appearance since announcing his resignation. he will take the podium shortly. thousands of people expected to fill the vatican hall. this will be his second live appearance until he steps down due to health concerns. he's been living with a pacemaker scant recently had surgery to have the battery replaced. he's sitting in the white share in the center of the stage. when he steps down, he will live in a monastery near the vatican and will have no duties related to the church. >> looking at our top stories the investigators searching for the gunman behind a deadly shooting in fort washington. one person was shot and killed late tuesday night on rose marie drive. they have not identified the victim. the massive manhunt for a former los angeles police officers suspected of killing four people may not be over. authorities say that star and human remains were found in a burned out moun
of challenges. president obama nominated his chief of staff to be his next treasury secretary. and now jack lew is outlining what he sees ahead for the economy. ai uchida joins us now from the business desk. ai, good morning. >> good morning, catherine. jack lew, he has to win over the democrats and the republicans before he can be treasury secretary. so he's asking lawmakers for bipartisan support on fiscal reform. he says this is needed to keep the u.s. economy on the path to recovery. lew spoke to senators on wednesday. he's seeking their approval for his appointment to obama's second-term cabinet. lew said he's resolved to reduce the nation's huge budget deficit. he asked both democrats and republicans to work together to avoid automatic spending cut march on defense and other programs. >> we must put our nation back on a path of fiscal sustainability. we cannot allow the series of harmful automatic spending cuts known as the sequester to go into effect. these cuts would impose self-inflicted wounds to the recovery and will put far too many jobs and businesses at risk. >> lew also responded
to secretary treasury jack lew today. we'll have the latest report for you from washington, but, first, let's turn quickly to the market. a tax hike taking a bit of a bite out of consumer spending. january retail sales up a modest one tenth of a percent. the first rating on consumer spending since the payroll tax increase took effect. the dow jones industrials down 36 points. sch gained a point. the nasdaq up ten. 3.4 billion shares traded today on the big board. carnival cruise line have a profit warning as a result of the stranded ship in the gulf. stock down 4%. after the close, cisco systems reported its profits and revenue beat targets, but in after hours trading, stock volatile, prices above gold and oil declining. crude oil down 50 cents, and in the bond market, interest rates higher. the treasury's ten year now yielding 2.2 #%. 2.02%. thompson announcing laying off 2500 employees this year, about 4% of the global work force. that's stock down more than 2% on the day. the boards of amr, the parent of bankrupt american airlines, u.s. airways expected to vote tomorrow on the the propos
questions over his wall street past at a senate confirmation hearing wednesday. jack lew defended the bonus of nearly $1 million he received while working at citigroup just a few months after the bank added taxpayer bailout worth billions. he was also a question of his investment of tens of thousands of dollars in a citigroup fund listed at a building in the cayman islands that obama himself has referred to as "the largest tax scam in the world." wallace citigroup, jack lew oversaw a unit that reportedly profited off the housing crisis by investing at a hedge fund that bet in favor of the collapse. among those to question jack lew is republican senator orrin hatch of utah. >> you have stated to support the volcker rule, yet your the chief operating officer for two units engaged in the sort of activities that the rule is meant to prevent. therefore, if you're really -- were confirmed, it could be awkward in which your role as chair of the fsoc you'd be saying, "do is i say, not as i did." >> i was not in the business of making investment decisions. i was certainly aware of things going on an
, jack lew is being hoisted on barack obama's class warfare pi tard. we'll talk about that a little later in the show. please stay with us. s. all right that's a fifth-floor probleok.. not in my house! ha ha ha! ha ha ha! no no no! not today! ha ha ha! ha ha ha! jimmy how happy are folks who save hundreds of dollars switching to geico? happier than dikembe mutumbo blocking a shot. get happy. get geico. fifteen minutes could save you fifteen percent or more. >>> it looks like the cruise from hell is about to end for the 4,200 people aboard the carnival "triumph." it should make land in a few more hours but this will not be the end of the story for the company. we have a live report on this still developing story in just a few minutes. please stay with us. this is america. we don't let frequent heartburn come between us and what we love. so if you're one of them people who gets heartburn and then treats day after day... block the acid with prilosec otc and don't get heartburn in the first place! [ male announcer ] one pill each morning. 24 hours. zero heartburn. and don't get heartburn in t
's not a good thing. >> it's not a good thing. >> it's not a good thing. >> i can't imagine that jack lew would -- >> becky has the story that she should probably -- >> it is going to be something that makes for a very interesting story in washington this morning. >>> the senate banking committee's going to be grilling president obama's treasury secretary nominee, jack lew, today. among the issues expected to be raised are a bonus he received from citigroup and, as joe was talking about, cayman island investments. lew is expected to eventually win confirmation. we're going to be speaking to veteran senate finance committee member charles grassley coming up at 8:00 eastern time. yes, the situation with cayman island accounts could make for an interesting debate today. >> max bachus back in 2008 said that this ugland house that has a lot to do with tax evasion which we know is a felony. but then yesterday -- >> we've had treasury secretaries that haven't paid their taxes before. >> that's not -- that's not a disqualifying -- >> geithner's gone -- >> it's better than average. you don't have to be
healthcare and he did. >> brian: jack lew wants to be next treasury secretary. sit down for questioning. is out kay to have the cayman island accounts? number one. number two, what were you doing in the recession that lasted so long? number three, who was the chief of staff, where was the president and was he interested to find out information when the benghazi attack was going on? here is the interchange with jack lew and the senator. >> john brennan testified yesterday that it wasn't him. secretary panetta said it wasn't him. acting dci said it wasn't him. ambassador kennedy said it wasn't him. let me ask you again. who briefed the president on actually what was happening throughout this seven-hour period? >> well, in the conversation, that i was in, the national security staff was present. some of the people -- >> brennan had been included that? >> you are asking who did a briefing? that is different than who is in the conversation? >> brian: i am so confused. that's like trying to find out why you are getting a "d" in the subject. just answer the question. it doesn't seem like to pr
. >> on c-span tonight, as senate confirmation hearing for treasury secretary nominee jack lew. then president obama discusses job creation. and new guidelines on cyber security. we'll get to jack lew's confirmation in a moment. first the cbo director douglas elmendorf testimony. he warned of the sequester could cost 750,000 jobs. >> could you tell me in terms of the negative economic impact of the sequester, the .6%, what does that translate in point of lost jobs? >> our estimate is that the sequester alone would reduce gdp growth this year by zero point six percentage points. it would lower that gdp at the end of the year. we think that would reduce by about 750,000 jobs. >> 750,000 jobs between now and the end of 2013, right? >> right. >> that is a whole lot of jobs. we should be working overtime to prevent that kind of job loss. if you were to replace the deficit reduction through that austerity program, the cuts to the sequester with a plan that accomplishes the same amount of deficit reduction spread over the 10 year period, you would not have that hit on jobs? >> right.
stage today. jack lew is expected to face questions about his track record and his tenure at citigroup during the financial crisis. lew, who has been serving as the president's chief of staff, is expected be easily confirmed by the democratic-controlled senate. he would succeed timothy geithner. president obama is in north carolina this afternoon seeking support for the plans he laid out in the state of the union address. >> working americans, specifically in manufacturing, have president obama's attention today. he is in asheville, north carolina visiting an engine parts supplier. he said job creation with his north star. >> is our generation's task to reignite the true engine of economic growth, a rising, thriving middle-class. >> the president called on congress to raise the minimum wage, help homeowners refinance, promote early education, and create jobs by promoting energy and manufacturing. but first, he said that congress passed to agree on a balanced budget that cuts the deficit. >> cannot just cut our way to prosperity. >> gop is responding with this whether video. >> doesn't
, it was obama and jack lew and rob nabors who went to harry reid and said this is the solution but everyone has their fingerprint on this and it is everyone's -- the policy and it is law, what is important about it is, it is a governing travesty. the idea that you are going to go around and in random ways cut things and would be like a family that has to cut their budget, saying, let's cut the medicine that keeps the children alive. it is stupid. >> chris: kim, having said that it is stupid, what are the chances that we're actually going to reach march 1st and the sequester, the $85 billion in automatic cuts, will kick in and if it does, and if we begin to see, markets reacting and stuff, how does it play out with the president insisting there have to be tax hikes on the rich, and, the republicans saying, no, it all needs to come out of spending cuts? >> i think it is very likely we hit that day and it comes and the reason why is because, the republicans have been asking the white house to come up with some sort of alternative, which you actually prioritize, look forward, maybe, do something on
that. >>> plus jack lew, the president's nominee to lead the treasury was in the hot seat today facing a grilling from the senate from everything from his role at citibank and yes, his investments in the cayman islands. we're live on capitol hill. stay with us. ♪ . she knows you like no one else. and you wouldn't have it any other way. but your erectile dysfunction - you know, that could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is the only daily ed tablet approved to treat ed and symptoms of bph, like needing to go frequently or urgently. tell your doctor about all your medical conditions and medications, and ask if your heart is healthy enough for sexual activity. do not take cialis if you take nitrates for chest pain, as this may cause an unsafe drop in blood pressure. do not drink alcohol in excess with cialis. side effects may include headache, upset stomach, delayed backache or muscle ache. to avoid long-term injury, seek immediate medical
secretary jack lew >> good morning, washington. we have a smile. we hope you're having a great day. it's not a bad start, but things will go downhill after the noon hour. it's 36 degrees at 5:10. winter weather revisory in west virginia and north western maryland for the potential of 4 inches of snow. we really need elevation with this system to really get anything to stimulate. d.c. area is out of luck. no accumulation expected. the rain will be steady year as we head into the afternoon. we will go to meteorologist adam caskey who is out in the elements. he has the weather but forecast and tonight's temperatures. >> right now temperatures in some spots have dropped a little below freezing. we are rounded and a little above freezing for the most part in bethesda, 35 degrees at the storm chaser. let's look at current conditions. 35 with no wind. there's really not a windchill factor. let looked at the rest of the region. widespread low to mid 30's. a few degrees below freezing in a few locations. there's a look at those temperatures hovering around the freezing mark. here's a look at yo
's pick of treasury secretary. and some are saying jack lew of deliberate deception, took him to task over how he manages his own finance, a bonus of nearly a million dollars from citigroup, the bonus after you, the taxpayers, gave citi a 45 billion dollar bailout. why were we giving this guy a million dollar bonus for running the company to the point where we needed to bail them out? that's one of the questions that mr. lew is dealing with. plus the would-be treasury secretary took questions have he had investments in the cayman islands where people try to typically go to avoid paying certain taxes. listen. >> why is the investment-- >> senator, i don't know why it was organized i wasn't involved in setting up the fund. >> did you pay taxes on that investment. i reported all income related to that investment on my tax forms. i paid all my tax. >> and explain why it would be morally accessible to take close to a million dollars out of a company that was functionally insolvent and about to receive a billion dollars of taxpayer support. >> senator, in 2008 i was an employee, in the private
that jack lew deserved the bonus and here is why. the reason that banks loved to hire people who were formerly powerful government officials, they're a heavily regulated industry and heavily dependent on the government and they got the bailout. so, what's the point of hiring somebody like jack lew. i'm sure he has a lot of abilities, acumen on balancing the budget sheets and these things. that's fine, but they have a lot of-- the reason you hire people like jack lew is for entree into washington and help getting things done in a highly regulated industry and could you argue he earned every penny. >> megyn: the wall street journal asking the question did mr. lew feel guilty the check from the taims and president obama the champion of the middle class and this guy got a million dollars of money for a company who needed our bailout. issue number two, his investments in the cayman islands. they're perfectly legal, right? no one is challenging that these are illegal in any way, a question whether our treasury secretary should be dodging or a loophole out of paying the top rate in taxes. ju
at anytime should impugn his character or his integrity. >> meanwhile, treasury secretary nominee jack lew heads to capitol hill for his confirmation hearing. if confirmed he will succeed timothy geithner. he announced his resignation last month. >>> one moment from marco rubio's statement. rubio reached off camera for a small bottle of water. the awkward water break immediately drew thousands of reactions on twitter. it was a top twitter reaction. >>> conditions seem to be going from bad to worse aboard the abandoned cruise ship in the gulf of mexico. those on board describe the ship filled with sick passengers, scarce food and only a handful of working toilets. the ship is being towed and should arrive tomorrow. >> and a tiny pinscher beat out hundreds to win best in show at the westminster kennel club. banana joe, or just joe, was first in his breed to be named top dog. looks real happy. today we'll see if some m and a action gives the market a boost. keep an eye on the current owner of this network. trading on comcast such earlier than expected. acquisition of g.e.'s remaining stake in
in the testimony of jack lew before the senate finance committee. he will face questions about his work at citigroup. he did serve as chief operating officer during the financial crisis. he will be questioned about his investment in a fund in the cayman islands which was located in the building known for picking home for offshore tax havens. it will be interesting to hear what he has to say about that and other economic issues including the u.s.-backed. -- the u.s. sdebt. host this got the green light to auction off its brands including wonder ratan drakes. the end may be approaching. -- wonder bread and cadrake 's. there will have to provide medical benefits for retirees through may. pizza lovers, are you ready for a pizza hut curfew? all that coming up in the next hour. linda bell reporting for abc 7 news. >> did she say pizza perfume? >> yes. >> i am thinking pepperoni and mushrooms. thank you, linda. it's 47 degrees on this tuesday morning. >> mori action to the pope's >> welcome back. a beautiful clear morning in the nation's capital. >> looks nice. >> i saw the stars as i was driv
on this committee at anytime should impugn his character or his integrity. >> meanwhile, treasury secretary jack lew heads to capitol hill for his confirmation hearing. it's confirmed that he will succeed timothy geithner. >>> conditions seem to be going from bad to worse aboard the abandoned cruise ship. those on board said filled with sick passengers, scarce food and only a handful of toilets. the ship is being towed. >>> and a tiny affenpinscher beat out hundreds to win best in show at the westminster kennel club. banana joe, or joe, was best in show. >>> and a little m and a action gives markets a boost. keep an eye on the current owner of this network. trading on comcast such earlier than expected. acquisition of g.e.'s remaining stake in universal. it will end 21 years of partnership. >>> comcast will also purchase our iconic mro iic properties h0 rockefeller center. >>> the tech sector bellweather delivers after the bell. >>> and tim cook fired back about his companies $137 billion stockpile of cash. he called it a silly side show. but did say a program to return funds to share holders would
the senate. lawmakers from the senate finance committee are grilling jack lew for his hearing. they will ask him about his group that received help. lew hopes to succeed timothy geithner. >>> tug boats are slowly pulling the cruise ship back to the states after an engine fire knocked out power over the weekend. passengers report increasingly unsanitary conditions including sewage running down the walls and the floors. the company's ceo says carnival is using its full resources to help the passengers. carnival will offer a free flight home, a full refund, and future cruises. >> some people say it's the worst experience they've ever had. >>> meantime starbucks is setting sail. opened on the uss boxer. the coffee shop named star boxer served starbucks coffee, tea, and smoothies. starbucks baristas came aboard the boxer to train the crew members on how to operate the starbucks machines. i mean, i guess somebody can order that coffee with extra steam. >> maybe so. so many different sizes and different ways to get it. we'll see what happens with that. storm team 4 tom huron here to tell us about t
soil. jack lew began his confirmation adventure today. it's the president's pick to be the new treasury secretary. but questions persist about his old job. and his role during the night of the terror attack against the u.s. mission in libya last september. >> i did speak with the president that evening. national security staff worked on the issue on nonstop basis. >> who was briefing the president? were you? >> i was in the room when the president was briefed but i was not briefing the president. >> john brennan testified yesterday it wasn't him. secretary panetta said it wasn't him. in hearings, the odni clapper said it wasn't him. morrell said it wasn't him. we have eliminated a lot of people who had contact within the intelligence community that knew firsthand-hand what was going on in benghazi. who briefed the president on what was happening in the seven-hour period? >> in the conversations i was in. the national security staff was present. some of the people -- >> would brennan have been included that? >> you are asking who did a briefing. that is different than who is in the conve
ken's name as treasury secretary, and, obviously, that's not the case. jack lew is the guy now going through the confirmation process. do you know him, and what you know of him, do you think he would make a good treasury secretary? i ask you this because the day it was announced that timothy geithner was the treasury secretary, we were in omaha with you, and you commented on him. >> caller: that's right. tim was a terrific treasury secretary. the country owes him a lot. i don't know jack lew, never met him. i'm glad -- i -- liz: and you love the way he marks brands. your newspaper business has been growing pretty exponentially lately. you believe in print. i'm glad you do. we have a lot of friends in the news corporation, but as you know, there's been discussion about time inc floating magazines. you're telling me -- "people" magazine fits into your metrics of having competitiveness and this ability to have a great brand. you want "people" magazine? >> caller: i read the newspapers, but i don't read "people." liz: put yourself on the cover of the sexy men issue. >> caller: yeah, well
for jack lew as treasury secretary just getting underway. he is a former executive at the bailed out banking giant citigroup. served at the president's chief of staff. one republican senator already threatening to block his confirmation. >> normally you don't filibuster cabinet people. we try not to do that. it is not done often, maybe almost never in the senate but this is a big deal. bill: a big deal. mike emanuel is on the hill. we understand there is something jack lew said that may come back to bite him today. what is that, mike? >> reporter: that's right, bill. we expect some tough questions inside that senate finance committee hearing about jack lew's role at citigroup. obviously they got a taxpayer-funded bailout. what was he doing at citigroup and did it contribute to the ultimate financial collapse at the end of the bush administration that required taxpayers to step in and rescue wall street? we also expect we will get some heat for his personal invests in tax havens in the cayman islands, something that mitt romney and republicans ha gotten hammered for by democrats. we f
obama's critical nominations. it will not be smooth sailing for secretary nominee jack lew. joining me is ron christie and former pennsylvania governor ed rendell. good to see you both. >> good afternoon, alex. >> ron, i'll have you listen to the senator's interview this morning. let's take a listen. >> jack lew, a long history of public service. they have to ask and answer questions regarding his time on wall street and the large bonus payment that he got not too long before the big bailout of the group he was working for on wall street. his investments in the cayman islands for which the president criticized mitt romney. >> problems with bonuses and investing in the cayman islands. they were not problems for mitt romney. he did not have problems with him when he was going for the presidency. >> the democrats did. made issue shielding money overseas. my problem with jack lew, alex, he was the director of the office of management and budget. the statute says they are required to have a budget. if he can't balance the budget, why should we think he would do the same with the treasury? >
of the day all these issues they are racing on jack lew have been raised before. at the end of the day none of this is going to disqualify him. cheryl: he was the point man during the budget crisis, obviously far for the g.o.p. to bring up, could they make it about themselves and not about jack luke westmark >> absolutely. not 12 hours after the state of the union address, so all the plans laid out in the state of the union will be fair game for the senators and because so much of it, they only get five minutes apiece to ask questions and for jack lew to answer them, they're going to want to get on the record saying this is how i felt about what he said last night and try to extract some commitment down the road. cheryl: i'm sure it will come up, but what is going to be interesting is they will really hammer him at least tim geithner had that in a sense, do you think tim geithner had a better resume going into treasury secretary resident jack lew at the time? speak o>> the fascinating thinge is that he had a pretty administrative rule, he wasn't in investments, no client advisory work for o
, but they do matter. ask yourself while john brennan and jack lew are frankly having an easier confirmation process. no -- wasn't exactly going through scot-free, but they had good hearings. they aced the hearing part of the confirmation. hagel was a borderline disaster on style for his confirmation hearing and he certainly struggled on substance. and that's where we are. and by the way, if hagel does get through, he's going to go in as a very, very weak secretary of defense, that has to be wearing on the mind of the folks that sit in the west wing. jack reed is the president on line one. anyway, president obama's outside game is clear. he's on the road, pushing a raft of politically popular initiatives, daring republicans to essentially fall into a political trap of opposing them. but does the president have an inside game with a legislative strategy to actually get any of these things done? the president heads today to an atlanta area preschool and recreation center and he'll push a plan for high-quality preschool for every child. a plan he rolled out on tuesday night. >> in states that m
. >> how about jack lew, treasury secretary? >> jack lew, a long history public service, but they have to ask and answer questions regarding his time on wall street, the large bonus payment that he got not too long before the big bailout of the group that he was working for on wall street, his investments in the cayman islands for which the president criticized mitt romney, so we need an administration that doesn't say, you know, do as i say, not as i do. tim geithner, the former treasury secretary, i voted against him because he hadn't paid his taxes. american people deserve answers to these questions because the treasury secretary, candy, works not for the president or for congress, works for the american people. >> i don't know if you heard senator schumer at the top of the show. he was talking about sequestration. he expressed the belief either on the eve of or sometime in the first two or three weeks of sequestration if it goes into effect, the big across-the-board budget cuts, that republicans indeed will come to the middle and agree to essentially what the democrats have propose
to the secretary of defense other than 15-minute initial assessment. he didn't talk to brennan or jack lew or dempsey or panetta in the evening. he never called to say how are we doing? he was disengaged. he turned to romney and say i send these people in harm's way and i know the families he was letting us believe he was hands on. frank lil, seems to be it was detached. >> bret: i want to listen to what the president said today on the topic regarding benghazi. take a listen. >> this is the most transparent administration in history. there are a handful of issues around security where people have legitimate questions and they are still concerned about whether or not we have all the information we need. benghazi by the way is not a good example of that. that was largely driven by campaign stuff because everything about that we have had more testimony and more paper provided to congress than ever before. congress is running out of things to ask. >> i want to play again, hillary clinton from her testimony. we have heard this before. listen again. i want you to react to it. >> with all due res
i'm delighted and proud to introduce to this committee my friend and great new yorker, jack lew. no matter how many years he stays in washington, jack, who grew up in queens, a neighboring borough from where i live and his wife who grew up in my congressional district, will always have new york in their bones. i'm delighted to endorse his nomination to serve as the next secretary of the treasury. i do so heartily. he is renown for his managerial prowess and his common sense approach to solving tough problems. he is uniquely qualified to take the helm of treasury in these precarious, economic times as you so well outlined, mr. chairman. jack is no stranger to us. i met him there decades ago when i was a wide eyed congressman and he was a top aide for house speaker, tip o'neill. we became friends. he taught us a whole lot. i know that tip a tremendous influence on jack. it is clear that he shares the same work ethic and sense of duty. he shares another thing -- bipartisanship. speaker o'neill was renown for sitting down with president reagan and trying to work problems out. jack w
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